Think through whom you are trying to reach. Tailor what you do and how you do it to appeal to those communities.

And there are some - Bernie [Ecclestone] and others - who are embracing new technologies. When Sky UK started to broadcast there was an argument that audience would come down because it is pay TV. But the actual quality of the production and the use of technology and the engagement of the viewer is much better than it ever was. The product is simply better.

Formula One does very well. It is a very interesting asset. Could it be run in a different way? Sure it could be. Could it be improved? I'm sure it could. But all I can say is, it seems to do pretty well.

Monaco was my first race of the season and I spoke with a number of people and all seemed to be very optimistic.

The technology is already incredible and will improve massively in the next few years. Think about what you could do.

The web attacks traditional ways of doing things and elites, and this is very uncomfortable for traditional businesses to deal with.

The last person in the UK who described his product as being crap in public was one Gerald Ratner - and he was gone immediately.